BitMine Immersion Technologies Acquires 200,000 Ethereum, Total Reserves Reach 2.6 Million ETH

Publicly listed crypto asset manager BitMine Immersion Technologies announced that it has purchased more than 200,000 Ethereum (ETH) in just the past week. With this acquisition, the company’s total ETH reserves have now reached approximately 2.6 million tokens, positioning BitMine as one of the largest institutional holders with an openly disclosed Ethereum portfolio, according to a report from CryptoSlate.

In its official statement, BitMine revealed that the purchase was valued at around US$963 million, reinforcing the company’s strategy known as the “alchemy of 5%” — a vision to secure a significant share of the total ETH supply.

Thomas “Tom” Lee emphasized that this move reflects long-term confidence in Ethereum, particularly in its role as a bridge between the cryptocurrency ecosystem and advancements in artificial intelligence (AI).

This action further cements BitMine’s position as a leader in the “public Ethereum treasury” category. By controlling more than 2% of the circulating ETH supply, BitMine now challenges the standing of other global crypto asset management firms.

In addition to Ethereum, BitMine also maintains reserves in Bitcoin and cash, bringing its total crypto assets and liquidity to approximately US$11.6 billion, according to PRNewswire.

Nevertheless, this massive accumulation has sparked debate among analysts. Some have raised concerns about potential liquidity risks, the direct impact on ETH prices, and the funding strategies driving such aggressive expansion. In the midst of a highly volatile crypto market, sudden price pressures could pose serious challenges for large institutions in maintaining their portfolio performance.